What type of home do I want?

There’s no doubt you already know some of the features you want in a home. Perhaps a house that’s cosy, or with lots of natural light, or just somewhere that’s great for the kids to grow up in. But have you thought about other fundamentals like whether you’d like an older home or a new home? Perhaps an apartment is more your style? You’ll save yourself a lot of time if you know what you’re looking for, before you look.

Older home

An older home can be full of character, often has large rooms or beautiful decorative details. The garden might be established, and the area may have attracted local cafés and all the other things that make a neighbourhood great. Of course, none of this is guaranteed!

A quick word to the wise – don’t get too carried away loving the character of the house and forget to think about what work (and what money) might need to go into it to get it the way you want.

Things to consider:

Look for older homes with retro-fitted insulation
The layout may not suit modern living – living rooms might be away from the kitchen and outdoor areas
It can be hard to know what’s behind the walls, so alterations can be expensive
The age may mean wiring, roofing, piles and plumbing need replacing
Sometimes even if you only want to make small changes, you’ll end up having to do other work to get consent
Get someone qualified in to check the walls, insulation and any of the other considerations above before you buy.

It’s a good idea to get a building inspection report by a reputable company before going unconditional on an offer. See our Related Services section for help [is this still relevant?]

New home

New homes are generally well insulated, need little maintenance and have modern kitchens and bathrooms. There’s nothing like something shiny and new. But that doesn’t mean you don’t need a thorough look at all the details, especially at what’s not immediately visible to the eye. Being thorough is the key!

Things to consider:

Don’t forget potential extra costs of landscaping, buying curtains and carpets, or commuting
A new subdivision can take a while to start to look established
Check the quality of the building materials and finish – building jobs that have been rushed or had shortcuts when it comes to the materials can end up costing you money in the future

Apartments

Apartments are often close to the city and can make ideal first homes, retirement units or high yielding property investments. Convenience, security and less maintenance – these are all some possible ‘pros’ about buying an apartment. An apartment could make it more affordable to live in a good location, too. But not all apartments are great investments, so do your research before you buy.

What’s the body corporate?

Most apartment complexes have a body corporate. All the owners belong to it, and pay a levy to cover building running costs and maintenance. The body corporate is responsible for looking after common areas such as stairs, hallways, garaging, car parks and grounds.

It also sets the rules for the complex and these can affect what you can do with your unit (for instance you may not be able to alter your unit or run a business from home). Every ‘body corporate’ is different and it’s important to find out how it works and what the rules are, because it can affect both your use of the property and the value of your investment.

So you've decided on the type of home you'd like to buy. But what should you look for when you're viewing the open home? Find out in our blog here.